Garland Capital Management Inc.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 11, 2025), Garland Capital Management Inc. reported 33 stock positions worth $122.0 million. Its top holding was JPMorgan Chase (JPM) at 5.9% of the portfolio, followed by Abbvie (ABBV, 5.4%) and Bank of New York Mellon (BNY, 4.9%). Compared with Q3 2024, it opened 4 new positions, sold out of 1, added to 4 and reduced 22. The biggest buy was a new position in Prologis (PLD) and the biggest sale an exit from CVS Health (CVS).
- Most Recent 13F
- Q3 2025
- Location
- BELLEVUE, WA
- CIK
- 0001181544
- Portfolio Value
- $122.0M (Q4 2024)
- SEC Filing
- 0001398344-25-002407 ↗ filed Feb 11, 2025
Holdings Value
Holdings 33 stocks · $122.0M
| JPM JPMorgan Chase & Co. | 5.94% | 30,235 | $7.2M | Reduce -18.4% |
| ABBV Abbvie Inc. | 5.44% | 37,373 | $6.6M | Reduce -2.1% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 4.92% | 78,140 | $6.0M | Reduce -2.4% |
| TRV The Travelers Cos Inc. | 4.90% | 24,835 | $6.0M | Reduce -7.0% |
| CSCO Cisco Systems Inc. | 4.73% | 97,554 | $5.8M | Reduce -2.0% |
| PG The Procter & Gamble Co. | 4.62% | 33,616 | $5.6M | Reduce -9.4% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 4.51% | 25,011 | $5.5M | Reduce -2.9% |
| MRK Merck & Co. Inc. | 4.33% | 53,140 | $5.3M | Add +0.2% |
| WELL Welltower Inc. | 4.21% | 40,743 | $5.1M | Reduce -7.8% |
| PRU Prudential Financial Inc. | 3.82% | 39,340 | $4.7M | Reduce -4.4% |
| PEP Pepsico Inc. | 3.62% | 29,035 | $4.4M | Reduce -0.4% |
| DLR Digital Realty Trust Inc. | 3.59% | 24,695 | $4.4M | Reduce -2.2% |
| UPS United Parcel Service Class B | 3.57% | 34,505 | $4.4M | Reduce -0.3% |
| CVX Chevron Corp. | 3.49% | 29,424 | $4.3M | Add +0.0% |
| NVS Novartis AG-Sponsored ADR | 3.36% | 42,160 | $4.1M | Reduce -0.1% |
| RTX RTX Corp. | 3.34% | 35,255 | $4.1M | Reduce -2.3% |
| JNJ Johnson & Johnson | 3.33% | 28,062 | $4.1M | Reduce -1.4% |
| NTRS Northern Trust Corp. | 3.21% | 38,240 | $3.9M | Reduce -3.0% |
| ROK Rockwell Automation Inc. | 2.96% | 12,615 | $3.6M | Reduce -1.6% |
| AEP American Electric Power | 2.82% | 37,340 | $3.4M | Reduce -0.8% |
| MDT Medtronic PLC | 2.72% | 41,475 | $3.3M | Reduce -0.9% |
| PFE Pfizer Inc. | 2.68% | 123,285 | $3.3M | Add +0.5% |
| IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA | 2.67% | 38,535 | $3.3M | Reduce -1.2% |
| CMCSA Comcast Corp. Class A | 2.52% | 82,040 | $3.1M | Reduce -0.9% |
| ARE Alexandria Real Estate Equit | 2.37% | 29,580 | $2.9M | Add +0.6% |
| TTE Totalenergies SE -Spon ADR | 2.24% | 50,242 | $2.7M | Reduce -1.9% |
| PLD Prologis Inc. | 2.19% | 25,270 | $2.7M | New |
| GOOG Alphabet Inc. Class C | 0.55% | 3,500 | $667K | New |
| GOOGL Alphabet Inc. Class A | 0.54% | 3,500 | $663K | New |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.43% | 3,129 | $530K | No change |
| MSFT Microsoft Corp. | 0.23% | 675 | $285K | New |
| VNQ Vanguard Real Estate ETF | 0.08% | 1,049 | $93K | No change |
| VOO Vanguard S&P 500 ETF | 0.03% | 72 | $39K | No change |
Portfolio Sells Q3 2024 → Q4 2024
| CVS CVS Health Corp. | Sold out | 0.00% | −2.65 |
| IFF Intl Flavors & Fragrances | Reduce -1.2% | 2.67% | −0.48 |
| NVS Novartis AG-Sponsored ADR | Reduce -0.1% | 3.36% | −0.37 |
| ABBV Abbvie Inc. | Reduce -2.1% | 5.44% | −0.35 |
| PG The Procter & Gamble Co. | Reduce -9.4% | 4.62% | −0.32 |
| TTE Totalenergies SE -Spon ADR | Reduce -1.9% | 2.24% | −0.30 |
| JNJ Johnson & Johnson | Reduce -1.4% | 3.33% | −0.22 |
| PEP Pepsico Inc. | Reduce -0.4% | 3.62% | −0.19 |
| MDT Medtronic PLC | Reduce -0.9% | 2.72% | −0.18 |
| AEP American Electric Power | Reduce -0.8% | 2.82% | −0.15 |
| WELL Welltower Inc. | Reduce -7.8% | 4.21% | −0.14 |
| CMCSA Comcast Corp. Class A | Reduce -0.9% | 2.52% | −0.13 |
| JPM JPMorgan Chase & Co. | Reduce -18.4% | 5.94% | −0.07 |
| UPS United Parcel Service Class B | Reduce -0.3% | 3.57% | −0.06 |
| RTX RTX Corp. | Reduce -2.3% | 3.34% | −0.02 |
| PRU Prudential Financial Inc. | Reduce -4.4% | 3.82% | −0.01 |
| TRV The Travelers Cos Inc. | Reduce -7.0% | 4.90% | +0.09 |
| IBM Intl Business Machines Corp. | Reduce -2.9% | 4.51% | +0.13 |
| ROK Rockwell Automation Inc. | Reduce -1.6% | 2.96% | +0.31 |
| DLR Digital Realty Trust Inc. | Reduce -2.2% | 3.59% | +0.45 |
| NTRS Northern Trust Corp. | Reduce -3.0% | 3.21% | +0.49 |
| BNY Bank of New York Mellon Corp. | Reduce -2.4% | 4.92% | +0.50 |
| CSCO Cisco Systems Inc. | Reduce -2.0% | 4.73% | +0.66 |
Portfolio Buys Q3 2024 → Q4 2024
| PLD Prologis Inc. | New | 2.19% | +2.19 |
| GOOG Alphabet Inc. Class C | New | 0.55% | +0.55 |
| GOOGL Alphabet Inc. Class A | New | 0.54% | +0.54 |
| MSFT Microsoft Corp. | New | 0.23% | +0.23 |
| CVX Chevron Corp. | Add +0.0% | 3.49% | +0.16 |
| PFE Pfizer Inc. | Add +0.5% | 2.68% | −0.05 |
| MRK Merck & Co. Inc. | Add +0.2% | 4.33% | −0.30 |
| ARE Alexandria Real Estate Equit | Add +0.6% | 2.37% | −0.32 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q3 2025 | 21 | $7.3M | JPM, BNY, ABBV, RTX, IBM |
| Q2 2025 | 29 | $31.5M | JPM, BNY, ABBV, IBM, CSCO |
| Q1 2025 | 28 | $106.8M | ABBV, JPM, BNY, TRV, WELL |
| Q4 2024 | 33 | $122.0M | JPM, ABBV, BNY, TRV, CSCO |
| Q3 2024 | 30 | $130.0M | JPM, ABBV, PG, TRV, MRK |
| Q2 2024 | 32 | $141.5M | JPM, ABBV, MRK, PG, TRV |
| Q1 2024 | 33 | $150.9M | JPM, MRK, ABBV, TRV, PG |